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TA: Ethereum Turns Red, Why ETH Must Hold This Key Support
Ethereum declined below the $1,200 zone against the US Dollar. ETH is now at a risk of more losses if it fails to stay above the $1,150 support zone.
Ethereum started a fresh decline from the $1,250 and $1,280 levels. The price is now trading below $1,200 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,200 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline sharply if there is a clear move below the $1,150 support zone. Ethereum Price StrugglesEthereum failed to continue higher above the $1,250 and $1,280 resistance levels. ETH formed a high near $1,281 and started a fresh decline.
There was a clear move below the $1,220 and $1,200 support levels. Ether price declined below the 23.6% Fib retracement level of the upward move from the $1,043 swing low to $1,280 high. It is now trading below $1,200 and the 100 hourly simple moving average.
Ether is also consolidating near the 50% Fib retracement level of the upward move from the $1,043 swing low to $1,280 high. An immediate resistance on the upside is near the $1,200 level.
Besides, there is a major bearish trend line forming with resistance near $1,200 on the hourly chart of ETH/USD. The next major resistance is near the $1,250 zone. A close above the $1,250 resistance zone could start a steady increase. In the stated case, the price could clear the $1,280 resistance.
Sors: ETHUSD fuq TradingView.comIr-reżistenza ewlenija li jmiss hija qrib il-livell ta '$ 1,350, li fuqu l-prezz jista' saħansitra jogħla lejn il-livell ta 'reżistenza ta' $ 1,440 fi żmien qrib.
Aktar Telf fl-ETH?Jekk l-ethereum jonqos milli jogħla 'l fuq mir-reżistenza ta' $ 1,200, jista 'jkompli jimxi 'l isfel. Appoġġ inizjali fuq in-nuqqas huwa qrib iż-żona $ 1,150.
The next major support is near the $1,120 zone. A close below the $1,120 level might put a lot of pressure on the bulls. In the stated case, ether price may perhaps decline towards the $1,050 level or even $1,000 in the coming sessions.
Indikaturi tekniċi
MACD kull siegħa - Il-MACD għal ETH / USD issa qed jikseb momentum fiż-żona bearish.
RSI kull siegħa - L-RSI għal ETH / USD issa huwa ferm taħt il-livell 50.
Livell ta 'Appoġġ Ewlieni - $ 1,150
Livell ta 'Reżistenza Maġġuri - $ 1,200
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